(Jangada Mines issued a correction amending percentage interest in Blencowe Resources to 12% from previously stated 9.5%).
Jangada Mines PLC - London-based mining company focused on Brazil - Notes the announcement released by Blencowe Resources PLC in which it holds a 12% interest. Blencowe completes critical metallurgical test work on a "substantially increased scale of 150 kilograms by leading Chinese graphite metallurgical test laboratory at Wuhan University". Says results continue to highlight a high grade, low impurity concentrate. Says Blencowe now has "considerably more volume of end product concentrate to send to potential offtake and strategic parties ahead".
Chair Cameron Pearce says: "We are delighted that to see that our graphite product continues to deliver strong metallurgical results which is now endorsed by the leading graphite processing team in China. These results indicate that our concentrate is a highly marketable end product and will translate to more interested strategic and offtake parties being able to buy our product."
Current stock price: 3.20 pence each, down 1.5% on Monday afternoon in London
12-month change: down 35%
By Xindi Wei, Alliance News reporter
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Tower Resources (TRP)